At 35 years of age, Melina Ambrosino has scaled some remarkable heights.
After graduating from college — and lacking any ties or connections in the real estate or financial services fields — she rose in 10 years to become president of Newton-based tax advisory firm Cherrytree Group. This past month she was honored once again: elected as the first female president of the real estate development organization Brownfield Coalition of the Northeast (BCONE).
“Melina is such a positive force for BCONE, “ said Rick Shoyer of Montrose Environmental Group, the outgoing BCONE president. “She brings financial acumen, knowledge of the intricacies of tax incentives from multiple states, a winning personality, and vitality and energy to guide BCONE forward.”
“Brownfield” is a regulatory and real estate industry term for under-utilized former commercial or industrial land that may have been impacted by hazardous substances. These properties often require remediation before they once again serve a public or private purpose. The Brownfield Coalition of the Northeast promotes best practices in the sustainable redevelopment of brownfields and serves as the industry’s primary advocacy and networking organization in the region.
Fresh out of college, Ambrosino started as an administrative assistant with the company, quickly moving up the ranks to become its in-house expert in brownfield tax credits. Within a few years she became one of Cherrytree’s leaders in new business development before becoming the #2 executive in the organization in 2015 and Cherrytree’s president last year.
BCONE’s geographic coverage extends from Maine to Maryland. Members include real estate developers, site planners, land use consultants, attorneys, CPAs, insurance and risk advisors, Federal, state and municipal regulators and officials, and educators.
Since its inception in 2011, Cherrytree has obtained and placed over $111 million in state and Federal tax credits. For the past three years the company has acquired more Massachusetts brownfield tax credits on behalf of its client developers and investors than all other advisors combined. The company also focuses on renewable energy, historic preservation, and the creation of affordable housing.